Leading Economic Index Dips In U.S. in August

The Conference Board's index of leading economic indicators for the U.S. declined two-tenths of a percentage point in August and now stands at 137.6 (1996=100). The economic effects of Hurricane Katrina, which hit the Gulf Coast on August 29, are not reflected in its August data, the New York-based business research group noted.

August was the second consecutive monthly decline in the leading indicators, which preview the economy's expected track during the next six months. The Conference Board originally reported a slight increase in the indicators for July, but revised that to a slight decrease as more data on new manufacturing orders came in.

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